PKP Cargo to invest in Poland and Czech Republic

Polish railway cargo transportation company PKP Cargo plans to take over Advanced World Transport, a Czech Republic’s private company with 8 percent (as of 2013) contribution into Czech’s cargo transportation, said Dziennik Gazeta Prawna on Wednesday. The negotiations shall begin within 10 weeks from the start of due diligence process. AWT renders its services in countries such as Slovakia, Slovenia, Hungary, Poland, Germany, Romania, Bulgaria and Croatia and employs 2,000 people. In addition, PKP Cargo plans a probable acquisition of 100 percent of CTL Logistics shares, announced PKP Cargo. CTL, a Polish cargo transportation company contributes to both Polish and German markets. “PKP Cargo participates in the mergers and acquisitions process to increase the value of the company”, said PKP Cargo’s CEO Adam Purwin. The final and binding terms and conditions of the transaction are, however, not agreed on. The letter of intent was signed as of 2 September 2014.